Wrap Text
Completion of Maiden Diamond Drill Hole at Kabwe ("KBDD01")
SHUKA MINERALS PLC
(formerly Edenville Energy PLC)
(Incorporated in England and Wales)
(Registration number 05292528)
("Shuka Minerals" or "the Company")
ISIN Code: GB00BN47NP32
AIM Share Code: SKA JSE Share Code: SKA
High Grade Results from Maiden Diamond Drill Hole at Kabwe ('KBDD01')
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, is
pleased to announce that, further to the announcement on 14 May 2026, it has successfully
completed the first drill hole ("KBDD01") at the No.2 ore body at the Kabwe Zinc Mine ("Kabwe
Project").
Highlights:
- Grades of up to 65.7% Zn encountered in hole KBDD01 at the No. 2 Ore Body
- First drill hole exceeds pre-drill expectations and second drill hole now underway
- Average drill hole grade of 18.02% Zn in the main intersection versus existing high-
grade resource of 11.4% Zn
- Supports objective of increasing existing NI 43-101 resources by 50%
Drilling
The initial diamond drill hole was planned at 65 degrees at a bearing of 130 degrees and was
planned to intersect the ore body below the current workings at a depth of approximately
220-230 metres ("m"). The Company has commenced a deeper hole to intersect the orebody
at c.300-320m below surface.
The actual readings from a down hole gyroscope survey revealed the hole was 230.14m deep,
with a final azimuth of 132.31 degrees and a dip of 65.2 degrees. That is extremely accurate
for a 200m+ hole in a previously mined area.
As previously announced, the Behre Dolbear 2023 NI 43-101 report indicates that the No.2 ore
body has 3.1MT of ore remaining at grades of 11.4% zinc and 1.7% lead plus silver and
vanadium oxide.
Results
Some zinc mineralisation was noted near surface (5-15m) however the main intersection of the
orebody, as anticipated by GeoQuest Limited ("GeoQuest"), was 20.7 metres (from 206.8m to
227.5m) at an average grade of 18.02% zinc, including 7m (from 210.5-217.5m) with values
between 25-65% zinc. A maximum value of 65.7% zinc occurred at 213.2m down hole depth.
These assays were taken with a calibrated XRF machine and will be verified in due course with
JORC/NI 43 101 laboratory analysis and testing. This intersection aligns with the Company's
objectives for its 2026 exploration programme aiming to increase the existing resource by 50%,
subject to the results of the drilling programme.
The GeoQuest geological team are on site with the Company's CEO, Richard Lloyd, who is
overseeing the commencement of the initial (2,000 metres) phase of drilling. Drilling is being
undertaken by Ox Drilling Limited, a contractor with 21 years established operating experience
in Zambia.
The Company will update on further progress as drilling advances.
Shuka Minerals CEO, Richard Lloyd, commented:
"The initial drill hole of any campaign, even in a known mineralised and previously mined area,
is nerve wracking. The detailed planning based on previous reports from ZCCM and Anglo-
American data allowed GeoQuest and the team to target a very specific zone of the ore
body below the old workings. With this planning and the skill of the Ox Drilling operators, we hit
the target spot on and the results are well beyond our expectations. I am looking forward to
receiving the results from the upcoming drill holes."
Qualified Person
The technical information contained in this disclosure has been read and approved by Richard
Lloyd, Chief Executive Officer of the Company, a current Fellow of the Geological Society and
a Fellow Institute of Metals, Minerals and Mining and acts as a Qualified Person under the AIM
Rules - Note for Mining and Oil & Gas Companies.
This announcement contains inside information for the purposes of the UK Market Abuse
Regulation. The Directors of Shuka are responsible for the contents of this announcement.
ENDS
Shuka Minerals plc has its primary listing on the London Stock Exchange ("AIM") and a
secondary listing on the AltX of the JSE Limited.
LONDON
21 May 2026
For enquiries contact:
Shuka Minerals Plc +44 (0)7990 503 007
Richard Lloyd
Chief Executive Officer
Nominated Adviser +44 (0)20 7213 0880
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico Lazzaretti / James
Western
JSE Sponsor & Listing Advisor +27 (11) 480 8500
AcaciaCap Advisors Proprietary Limited
Michelle Krastanov
Broker +44 (0)20 7100 5100
Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Investor Relations +44 (0)208 892 8329
Olivia Lloyd
Caution:
Certain statements in this announcement, are, or may be deemed to be, forward looking
statements. Forward looking statements are identified by their use of terms and phrases such as
''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'',
"expect", ''will'' or the negative of those, variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on historical facts but rather on the
Directors' current expectations and assumptions regarding the Company's future growth, results
of operations, performance, future capital and other expenditures (including the amount, nature
and sources of funding thereof), competitive advantages, business prospects and opportunities.
Such forward looking statements reflect the Directors' current beliefs and assumptions and are
based on information currently available to the Directors.
SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 21-05-2026 08:00:00
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